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I need part D - that is all. Jones Enterprises was started on January 1, Year 1, when it acquired $6,000 cash from creditors and
I need part D - that is all.
Jones Enterprises was started on January 1, Year 1, when it acquired $6,000 cash from creditors and $10,000 from owners. The company immediately purchased land that cost $12,000. The land purchase was the only transaction occurring during Year 2. 20 points Required a. Record the events under an accounting equation. (Enter any decreases to account balances with a minus sign.) eBook JONES ENTERPRISES Accounting Equation Cash + Land = Creditors + Stockholders' Equity 16.000 - $ 6,000 + $ 10,000 (12,000) + 12,000 Hint Print Bal. $ 4,000 + 12,000 = $ 6,000 + $ 10,000 Reference b. As of December 31, Year 1, Jones's obligations to creditors represent what percentage of total assets? (Round your answer to 1 decimal place.) Percentage of total assets 37.5% c. As of December 31, Year 1, Jones's stockholders' equity represents what percentage of total assets? (Round your answer to 1 decimal place.) Percentage of total assets 62.5% d. What is the maximum cash dividend Jones can pay on December 31. Year 2? Maximum cash dividend payable e. Assume the debt is due December 31, Year 2. Given that Jones has $10,000 in stockholders' equity, can the company repay the creditors at this point? Yes NoStep by Step Solution
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